The newest big bank in town has officially put its mark on the Queen City's skyline. Truist Financial Corp. (NYSE: TFC) used a helicopter over the weekend to place signs bearing its name and logo atop its headquarters in uptown Charlotte.
The company had already added color-changing lights to Truist Center. That office building, known until recently as Hearst Tower, was purchased earlier this year for $456 million and houses the bank's corporate headquarters.
"It’s an honor to be a part of the iconic Charlotte skyline and the Queen City community," the bank says in a statement emailed to CBJ. "Our greatest hope is that our new Truist Center signage comes to represent a symbol of something so much more — a purpose-led company committed to improving education, affordable housing, health care and access to capital for everyone in our diverse community."
Each of the two Truist signs, facing east and west, are 14 feet tall and weigh more than 14,700 pounds, according to a fact sheet from the bank. The two logo signs, on the north and south sides of the building, weigh 8,800-plus pounds each. In addition, some 2 miles of LED lights have been installed.
The bank plans to have a big reveal of the new lighting system to mark its first anniversary on Dec. 7.
However, the tower's new look was promptly roasted by some social-media users — with one even creating a @TRUISTsignage Twitter handle.
"It is an abomination," says a tweet by Greg Brown, president of Cardinal Finance and administrator of the Charlotte Angel Fund. "If I had accounts at Truist I would close them in protest of this."
Truist was formed upon completion of the $66 billion merger of Winston-Salem's BB&T and Atlanta-based SunTrust, unseating Wells Fargo & Co. (NYSE: WFC) as the No. 2 bank in the Charlotte market based on local deposits. Work on the branding and conversion continues, with the expectation of wrapping up in 2022.
In other local news:
Gov. Roy Cooper and his coronavirus task force are slated to give an update on the pandemic situation today in a briefing that starts at 2 p.m. The governor and health officials have warned that Covid-19 data in North Carolina is troubling as case counts continue to rise ahead of Thanksgiving. Last week, Cooper and his team unveiled a county-by-county alert system on infection and hospitalization rates across the state.
A three-day hiring event kicks off today at Shutterfly's campus in Fort Mill. The company, which sells paper goods such as photo prints, greeting cards and calendars, is looking to fill 400 positions ahead of the holiday shopping rush, according to CBJ news partner WSOC-TV. Prospective applicants can look for an Adecco-branded "Jobmobile" outside the building at 1000 Shutterfly Blvd. today and tomorrow, 9 a.m.-4 p.m., and Wednesday, 8 a.m.-2 p.m., or explore job opportunities online here.
The Charlotte Observer reports Bojangles outposts are popping up across the country, thanks to a partnership with Love's Travel Spots. The chicken-and-biscuits chain, founded in Charlotte in 1977, historically has been found largely in the Southeast. But in-store restaurants have opened in recent weeks at Love's locations in Marion, Illinois; Blytheville, Arkansas; and Coredele, Georgia, according to the daily newspaper. Locations in Oklahoma and Mississippi are expected to follow.
And a Publix-anchored retail center in Catawba County has changed hands in a $13.9 million deal arranged by Cushman & Wakefield (NYSE: CWK), according to a press release. Tampa, Florida-based Wagner Property Group developed The Villages at Sherrills Ford, at N.C. Highway 150 and Slanting Bridge Road, and sold it to Koury Corp. of Greensboro.
“Within all of retail and among a variety of property types, we are experiencing a tremendous demand for neighborhood grocery-anchored assets,” said Cushman's Fain Hicks, who brokered the transaction along with Margaret Jones and Lane Breedlov. “Investors are drawn to the stable, durable income streams from strong performing grocery anchors and other necessity uses.”
Here are some of CBJ's latest stories on the impact of the Covid-19 pandemic:
Find all of CBJ's coronavirus coverage here.
Top-read story on the CBJ website over the weekend: What's next for Birkdale Village under new ownership
In the national news:
- Covid-19 live updates: AstraZeneca and Oxford University say their vaccine is 'highly effective' — The New York Times
- G20 summit closes with little progress and big gaps between Trump and allies — The Times
- Business leaders, citing damage to country, urge Trump to begin transition — The Times
- Election 2020 Today: Trump's fraud claims rejected; Biden to name top diplomat — Associated Press
- Trump administration drafts list of 89 Chinese firms with alleged military ties — Reuters
- Analysis: With end of crisis programs, Fed faces tricky post-pandemic transition — Reuters
- Economy week ahead: Factories, layoffs and consumer spending — The Wall Street Journal
- Bitcoin trades again near record, driven by a new group of buyers — WSJ
- So long doorbusters! Retailers put deepest discounts online after weeks of deals — CNBC
- Stock market live updates: Dow futures up 170, another effective vaccine, travel stocks rise — CNBC
And among the top-read stories across the bizjournals.com network is this piece from the Triangle Business Journal: Fresh details emerge on first tower for $1B 'world-class' development in Raleigh (RENDERINGS)
Sports:
The Carolina Panthers are 4-7 after shutting out the Detroit Lions yesterday for a 20-0 win.
This week and beyond:
Small Business Saturday events will take place in South End over four weekends in November and December.
Charlotte Motor Speedway has added an ice-skating rink as it revs up its annual holiday light display. In addition, the U.S. National Whitewater Center has recreated its ice-skating rink for the season; it will operate through February.
Find details about upcoming CBJ events at at bizjournals.com/charlotte/event.